Research each of the following types of business entities:
- Sole proprietorship.
- Limited liability company (LLC).
Consider potential factors and issues associated with each of these types of business entities in the context of contract law. Write a 2 to 3 page paper analyzing the following for each of the above four types of business entities:
- Who in the business entity would typically create and negotiate a contract?
- Who in the business entity would typically approve and sign a contract?
- Who in the business entity would have liability associated with the contract?
- What are the effects of the type of business entity on the ability to contract for the sale of the business?